Big Lots (NYSE:BIG) Issues Q3 2021 Earnings Guidance

Big Lots (NYSE:BIG) updated its third quarter 2021 earnings guidance on Friday. The company provided EPS guidance of $-0.200-$-0.100 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.090. The company issued revenue guidance of -.Big Lots also updated its FY 2021 guidance to $5.900-$6.050 EPS.

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Big Lots from $71.00 to $54.00 and set a neutral rating on the stock in a research report on Tuesday, September 7th. The Goldman Sachs Group reduced their price objective on shares of Big Lots from $66.00 to $58.00 and set a neutral rating on the stock in a research report on Monday, August 30th. Loop Capital reduced their price objective on shares of Big Lots from $60.00 to $50.00 and set a hold rating on the stock in a research report on Monday, August 30th. Piper Sandler lowered shares of Big Lots from an overweight rating to a neutral rating and reduced their target price for the stock from $60.00 to $50.00 in a research report on Tuesday. Finally, Telsey Advisory Group lowered shares of Big Lots from an outperform rating to a market perform rating and set a $72.00 target price on the stock. in a research report on Friday, August 27th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $55.90.

Shares of BIG stock opened at $46.56 on Friday. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 6.59, a PEG ratio of 0.68 and a beta of 2.31. The company’s 50 day moving average is $53.24 and its 200 day moving average is $61.72. Big Lots has a 52-week low of $42.05 and a 52-week high of $73.23.

Big Lots (NYSE:BIG) last announced its earnings results on Thursday, August 26th. The company reported $1.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by ($0.03). The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.48 billion. Big Lots had a net margin of 4.20% and a return on equity of 21.00%. Big Lots’s revenue was down 11.4% on a year-over-year basis. During the same quarter last year, the business earned $2.75 earnings per share. On average, analysts anticipate that Big Lots will post 6.03 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 24th. Shareholders of record on Friday, September 10th were paid a $0.30 dividend. The ex-dividend date was Thursday, September 9th. This represents a $1.20 annualized dividend and a yield of 2.58%. Big Lots’s dividend payout ratio (DPR) is 16.33%.

Big Lots announced that its board has approved a stock buyback program on Friday, August 27th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 29.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

In other news, EVP Michael Allen Schlonsky sold 2,000 shares of Big Lots stock in a transaction on Wednesday, July 21st. The shares were sold at an average price of $61.27, for a total transaction of $122,540.00. Following the completion of the sale, the executive vice president now directly owns 65,951 shares in the company, valued at $4,040,817.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.90% of the company’s stock.

A hedge fund recently raised its stake in Big Lots stock. Morgan Stanley boosted its holdings in shares of Big Lots, Inc. (NYSE:BIG) by 137.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 588,818 shares of the company’s stock after purchasing an additional 341,116 shares during the period. Morgan Stanley owned about 1.70% of Big Lots worth $38,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 94.45% of the company’s stock.

About Big Lots

Big Lots, Inc engages in the operation of retail stores. It operates through the Discount Retailing segment which includes merchandising categories such as furniture, seasonal, soft home, food, consumables, hard home, and electronics, toys, and accessories. The company was founded by Sol A. Shenk in 1967 and is headquartered in Columbus, OH.

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Earnings History and Estimates for Big Lots (NYSE:BIG)

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